Vinyl electrical tapes are preferred by end user in construction field for marking, identification of electrical phases, piping, leads and safety areas. Vinyl electrical tapes are generally used in low voltage applications for primary insulation and complex wrapping. Most preferable thickness used for bundling and harnessing cables is 7 mil and above of vinyl electrical tapes in the United States. It is also noticed that PVC- backed vinyl electrical tapes are used to replace and reinforce cable jackets in low, medium and high voltages, this is the key reason behind preferring PVC over other materials.
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Many manufacturers who are engaged in the manufacturing of vinyl electrical tapes produce premium tapes on demand, although it requires high grade of raw material. However, high raw material cost can easily be neglected over several advantages offered by premium tape, one of which is high performance delivered by these tapes. Stronger the adhesives more is the flexibility and better stretch and seal features.
Vinyl Electrical Tapes Market: Dynamics
Emerging economies are expected to be the most lucrative markets for vinyl electrical tapes due to the high economic growth rate. With the rise in per capita income in the emerging economies the demand for merchandise has increased by more than 1.5x in the last few years. The increase in consumption of goods has expanded the electrical and electronic industry while creating significant opportunity for electrical tapes industry.
With the shift of manufacturing bases from developed countries to developing countries the volume of electrical and construction goods is expected to increase in the emerging regions hence creating the demand for vinyl electrical tapes during the forecast period.
Vinyl Electrical Tapes Market: Regional Outlook
Geographically vinyl electrical tapes can be segmented as North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa. Vinyl electrical tapes market is gaining traction in Asia Pacific region. Asia Pacific is expected to account for more than 30% value share of global total market. Tapes market is growing faster than its economy influenced by the rapid growth of the e-retail sector in the region.
Other than e-retail growth factors such as government policies in favor of manufacturing industry, availability of raw material and labor at low cost are motivating vinyl electrical tapes manufacturers to set up and expand their manufacturing facilities in Asia Pacific region especially in China and India. Moreover, increasing number of skyscrapers in the United Arab Emirates and in many other GCC countries is anticipated to create good opportunities in the vinyl electrical tapes market.
Vinyl Electrical Tapes Market: Key Players
Some of the key players in the vinyl electrical tapes market are mentioned below:
- 3M Company
- Can-Do National Tape
- Parafix Tapes & Conversions Ltd.
- Electro Tape Specialties, Inc.
- Bron Tapes, Inc.
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Vinyl Electrical Tapes Market: Key Developments
Inorganic expansion at global level allows players to strengthen their market footprint along with strong customer base. Regional players are following the path of organic expansion by increasing manufacturing capabilities. Through mergers and acquisitions, key players have increased their market share, thus increase new entry-level barriers in the market. Some of the key developments in vinyl electrical tapes market are as follows:
- In 2018, 3M invested US$ 1.8 billion in its research and development to improve its product offerings. The company has 8,300 researchers and research centers in 36 countries across the world.
- In 2017, Parafix Tapes & Conversions Ltd. expanded its manufacturing facility and upgraded its prototyping equipment.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Historical Actual Market Size, 2014 – 2018
- Market Size & Forecast 2019 to 2029
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Market Drivers and Restraints
Regional analysis includes
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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Vinyl Electrical Tapes Market: Segmentation
On the basis of material, global vinyl electrical tapes market can be segmented as follows:
- Polyvinyl Chloride
On the basis of thickness, global vinyl electrical tapes market can be segmented as follows:
- Below 5 mil.
- 5-7 mil.
- 7-10 mil
- Above 10 mil.
On the basis of application, global vinyl electrical tapes market can be segmented as follows:
- Building & Construction
- Electrical & Electronics
Vinyl Electrical Tapes Market: Report Highlights
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth segmentation of the global Vinyl electrical tapes market
- Historical, current, and projected size of the global Vinyl electrical tapes, regarding volume and value
- Recent industry trends and developments in Vinyl electrical tapes
- Competitive landscape in the global Vinyl electrical tapes market strategies for key players operating in the protective fabrics and products offered by them
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on performance of the global Vinyl electrical tapes market
- Must-have information for global Vinyl electrical tapes market to sustain and enhance their market footprint.
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